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SHOP

Shopify

$335.00

-21.65 (-6.07%)

07:07
09/11/19
09/11
07:07
09/11/19
07:07

Shopify acquisition accelerates its fulfillment strategy, says Canaccord

Canaccord analyst David Hynes noted Shopify announced intentions to acquire 6 River Systems, a provider of warehouse automation technology. The analyst said the acquisition accelerates its fulfillment strategy and he would be a buyer on any pullbacks. Hynes reiterated his Buy rating and $385 price target on Shopify shares.

  • 18

    Sep

SHOP Shopify
$335.00

-21.65 (-6.07%)

08/27/19
RSBL
08/27/19
NO CHANGE
Target $481
RSBL
Buy
Shopify price target raised to Street-high $481 from $410 at Rosenblatt
Rosenblatt analyst Mark Zgutowicz raised his price target for Shopify to $481 from $410, which is new a high on the Street according to Bloomberg. The analyst sees revenue for the company's Fulfillment Network growing to over $6B in 2025 from about $300M in 2021. Further, Shopify's gross merchandise volume should see a "modest acceleration" over this same period, Zgutowicz tells investors in a research note. The analyst, who increased his out-year revenue expectations "substantially," keeps a Buy rating on the shares.
09/09/19
BARD
09/09/19
NO CHANGE
Target $410
BARD
Outperform
Shopify price target raised to $410 from $370 at Baird
Baird analyst Colin Sebastian raised his price target on Shopify to $410 from $370 as he remains constructive on the company given ongoing favorable secular e-commerce trends, large online services market opportunity, mission critical software offering, and incremental monetization opportunities. Sebastian reiterated his Outperform rating on Shopify shares.
09/10/19
PIPR
09/10/19
NO CHANGE
Target $320
PIPR
Neutral
Shopify acquisition positive for fulfillment scale, says Piper Jaffray
Piper Jaffray analyst Michael Olson believes Shopify's acquisition of 6 River is a positive for the company's ability to more rapidly scale its fulfillment network. Shopify management was likely weighing the balance between internally building out similar fulfillment solutions, but opted to buy versus build in order to accelerate the trajectory of its offering, Olson tells investors in a research note. The analyst keeps a Neutral rating on Shopify shares with a $320 price target based on valuation.
09/10/19
JEFF
09/10/19
NO CHANGE
Target $300
JEFF
Hold
Shopify acquisition expands total addressable market, says Jefferies
While the financial impact of Shopify's 6 River Systems acquisition is minimal in the near-term, the deal accelerates the company's ambitions to build out a fulfillment network and expands the total addressable market, Jefferies analyst Samad Samana tells investors in a research note. In addition to the acquired technology, the analyst also views folding in 6 River's leadership as valuable to Shopify, noting two formerly served in leadership roles at Amazon. Samana keeps a Hold rating on Shopify with a $300 price target.

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